FX.co ★ US Stocks Rise to Records

US equities started the week at record highs, buoyed by signs of a possible US–Iran agreement reached over the weekend. The S&P 500 rose 0.6% and the Dow added 0.4%, while the tech-heavy Nasdaq advanced nearly 1%.

President Trump and Secretary of State Rubio indicated they were close to a deal involving concessions that would restore energy trade through the Strait of Hormuz, putting downward pressure on oil prices and helping to contain the impact of elevated inflation. Equities retained their gains even after new clashes between US and Iranian forces, which clouded confidence in the prospective deal.

AI hyperscalers and compute infrastructure stocks, which have led major indices higher this year, were mostly firmer. Tesla, Nvidia, and Amazon each traded about 1% higher. Micron surged more than 8% after UBS upgraded its recommendation and raised its price target. By contrast, Melrose slumped 8% after authorities ordered precautionary evacuations at its GKN facility.